STOCKHOLDERS’ EQUITY |
3 Months Ended |
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Mar. 31, 2025 | |
| Equity [Abstract] | |
| STOCKHOLDERS’ EQUITY |
4. STOCKHOLDERS’ EQUITY
AT-THE-MARKET OFFERING
On September 2, 2022, the Company entered into a Sales Agreement (the “Sales Agreement”) with Barclays Capital Inc., BofA Securities, Inc., HSBC Securities (USA) Inc., ThinkEquity LLC, H.C. Wainwright & Co., LLC and Roth Capital Partners, LLC, as our sales agents (collectively, the “Agents”) to conduct an at-the-market (“ATM”) equity offering program, pursuant to which we may publicly issue and sell from time to time shares of our common stock having an aggregate offering price of up to $250,000 through the Agents. On November 16, 2023, we entered into an Amendment to the Sales Agreement, effective as of November 2, 2023 (the “Amendment”), with the Agents. The Amendment revised the term “Registration Statement,” as used in the Sales Agreement, to our new shelf registration statement on Form S-3, as amended (File No. 333-275123), and revised the term “Prospectus Supplement,” as used in the Sales Agreement, to our prospectus supplement dated November 2, 2023, relating to the ATM equity offering program contemplated by the Sales Agreement. During the three months ended March 31, 2025, the Company sold an aggregate of shares of common stock aggregate gross proceeds of $909, less issuance costs of $18, for net proceeds of $891. The ATM is not currently active since we do not have an effective shelf registration statement covering the shares of common stock issuable thereunder.
STOCK-BASED COMPENSATION
The Company recognized stock-based compensation expense related to common stock, stock options and warrants for the three months ended March 31, 2025 and 2024 of $ and $, respectively, which is included within compensation expense on the condensed consolidated statements of operations. As of March 31, 2025, there was $ of unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period of years.
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